“Based on our progress so far with our strategic review of Fresh & Easy, including the indications of interest received from third parties, we have confirmed that the outcome of the review will be an exit from the United States,” Tesco officials stated in the release. “As such, Fresh & Easy has been treated as a discontinued operation within these results.

“Whilst the process is ongoing, and as such the form and final financial impact of the exit is still to be determined, we have written down the assets of the business and booked a provision for ongoing liabilities.”

The largest British grocer, Tesco launched Fresh & Easy in 2007 and operated 200 small-format stores in California, Nevada and Arizona.

Topics:

Related Articles

About the Author:

Doug Ohlemeier

Doug Ohlemeier, who has written for The Packer since 2001, serves as eastern editor, a position he has held since August 2006. He started at The Packer as a staff writer after working for nearly a decade in commodity promotion at the Kansas Wheat Commission, where he was a marketing specialist.
Doug worked in radio and television news writing, producing and reporting for seven years in Texas, Missouri and Nebraska.
He graduated from Oklahoma State University, Stillwater, in 1984, with a bachelor of science degree in broadcast journalism and a minor in history. He earned a master’s in corporate communications from the University of Kansas, Lawrence, in 1991. In college, he served as a news editor of the daily O’Collegian newspaper and interned in radio and television news departments.